Query on ISA opening and funding

Hi I have opened a Cash ISA account as an ISA transfer-in from another Cash (HTB) ISA at the end of the last tax year (22/23). All funds from the old ISA account were ordered to be transfered in full to the new ISA account at the moment of opening of this new account (tax year 22/23), but this transfer took a while to finalise and basically these funds have only reached the new ISA account within the current tax year (23/24). This new cash ISA account has not been funded at any point with "new" money, only with the funds I was previously holding in the old cash ISA account which is now closed. Can I now create a new cash ISA account and pay into it within the current tax year (23/24)? Thanks

Hi

ISA transfers should take no longer than: 15 working days for transfers between cash ISAs or 30 calendar days for other types of transfer.
If your transfer takes longer than it should, contact your ISA provider.  
If you’re unhappy with the response, you can take the matter up with the Financial Ombudsman Service.  
Have a look at the guidance on Individual Savings Accounts (ISAs) for more advice.

Thank you

Thanks for the answer, I don't have concerns about the timeframe for this transfer though as that has since been completed. My question was more specifically about whether the ISA transfer having completed within this tax year (even though this new cash ISA was opened and the ISA transfer was requested within the previous tax year) would: a) count as putting money into this Cash ISA this tax year b) count as putting money into this Cash ISA in the previous tax year c) not count as putting money into the Cash ISA since it was an ISA transfer I wanted to understand if I can open a new cash ISA this tax year and also put money into it this tax year, given what I described above (the odd timings and the fact that this was a transfer in) and the existing rules on "can open only 1 ISA of each type in a year" and "can pay into only 1 ISA of each type in a year". I'm not able to understand this from the existing ISA guidance. Thanks

Hi D1468

The transfer of funds from one ISA to another doesnt count as paying into the fund as this is 'old' money. It is when you pay 'new' funnds into a fund that you can only have 1 cash ISA.

Thank you